Here's the table of 11 ways to make money in crypto along with detailed explanations:
| No. | Ways to Make Money in Crypto | Explanation |
|---|---|---|
| 1 | Trading Crypto | Trading crypto involves buying and selling cryptocurrencies with the aim of making a profit from the difference in price. You can do trading on various trading platforms available. Trading crypto requires a good understanding of technical and fundamental analysis to predict price movements. |
| 2 | Mining Crypto | Mining crypto is the process of validating crypto transactions and adding them to the blockchain. As a reward, miners receive crypto that they mine. However, mining crypto requires expensive specialized equipment and consumes a lot of electricity. |
| 3 | Staking Crypto | Staking crypto is the process of holding crypto in a wallet and maintaining it in the blockchain network. In staking, you earn rewards based on the amount of crypto you stake. However, staking also requires an understanding of the blockchain consensus mechanism used. |
| 4 | Lending Crypto | Lending crypto is the process of loaning crypto to others in exchange for interest. You can do lending crypto through available lending platforms. However, lending crypto carries the risk of default from borrowers, resulting in losses. |
| 5 | Airdrop | Airdrop is the process of getting free crypto from a crypto project developer. Airdrops are usually given to promote new crypto projects or increase awareness of a specific crypto project. |
| 6 | Bounty Program | A bounty program is a program offered by a crypto project to promote the project. You can earn rewards in the form of crypto by completing certain tasks such as writing articles, creating videos, or developing applications. |
| 7 | Dividends Crypto | Dividends crypto is the process of earning rewards from a crypto project based on the number of tokens you hold. Dividends crypto is usually given by crypto projects that focus on DeFi (Decentralized Finance). |
| 8 | Yield Farming | Yield farming is the process of using a liquidity provider to earn rewards in the form of crypto. You can do yield farming on various DeFi platforms available. Yield farming requires an understanding of liquidity provider mechanisms and risk management. |
| 9 | Masternode | Masternode is a specialized server that runs a blockchain node and stores a complete copy of the blockchain. In masternode, you receive rewards in the form of crypto generated by the node you run. However, masternode requires a large capital and high technical skills. |
| 10 | Crypto Faucet | Crypto faucet is a website or application that gives rewards in the form of crypto for free to its users. However, the amount of reward given is usually very small and takes a long time to accumulate. |
| 11 | Trading Bot | It's basically trading but with an automated software called Bot. An example is cointech2u bot, that is proven to generate passive income 30% monthly on average. Using Artificial Intelligence, Futures Market, Martingale Strategy, and runs on Binance and OKEx |